Had an Offer for Your Estate Agency? What to Do Before You Reply

If a buyer has approached you about your estate or letting agency, don't reply with a number, a yes or a no until you understand what is on the table. 2point0 Realise assesses unsolicited approaches for owners, benchmarks them against the market and negotiates on your behalf, in confidence. It's often the first step in selling your estate or letting agency on the right terms.

Why Buyers Approach Directly

A buyer that contacts you has usually already identified your business as a strategic fit - the right location, the right lettings book or the right team. Approaching before you go to market lets them avoid competition from other buyers.

Approaches to letting agency owners have become more common since the main phase of the Renters' Rights Act came into force on 1 May 2026. Buyers expect more owners to be open to offers as compliance demands rise and new landlord investment slows.

How Buyers Build a First Offer

First offers are built to leave room. Acquisition teams typically value lettings income conservatively, apply discounts for risks such as owner dependency or landlord concentration, and defer a large part of the price.

The result can be a headline figure that looks attractive while the amount paid on completion is modest. The detail - how much is deferred, on what conditions and for how long - is where most of the value sits.

What to Do Before You Reply

Don't share financials before a non-disclosure agreement is signed.
Don't give a price expectation in the first conversation.
Ask what is actually being proposed: headline price, upfront and deferred payments, earn-out terms, conditions and timetable.
Don't agree to exclusivity or sign heads of terms early.
Get an independent view of value before you negotiate.
Consider who else might buy. One approach often signals wider demand.

What to Check in Any Offer

Element	What to ask	Why it matters
Headline price	What is it based on: lettings income, EBITDA or both?	Shows how the buyer values your business, and where it can move
Payment on completion	How much is paid on the day?	This is the only part of the price that's certain
Deferred payment or earn-out	What triggers it, over what period, and how is it measured?	Retention targets and clawbacks decide what you actually receive
Your role	Do you need to stay on, in what role and for how long?	Shapes your life after the sale and is often tied to the earn-out
Staff	What happens to roles, terms and branches?	Protects your team and the relationships the buyer is paying for
Exclusivity	How long, and can you talk to other buyers meanwhile?	Long exclusivity removes the competition that protects your price
Conditions	What due diligence, funding or approvals are needed?	Open conditions are where deals stall or get renegotiated

Why Talk to 2point0 Realise First

We've been the buyer. Joel Osbourne ran acquisitions at LRG, Christie & Co and Spicerhaart, and Paul Broomham was CEO of Michael Jones & Brand Vaughan, part of Lomond. We know how acquisition teams build a first offer and what they hold back.

We assess the approach confidentially, benchmark it against the market, and either negotiate it up or take your business to other qualified buyers to create competition. Fees are success-only: generally 2% to 4% of the total sale price, paid only on completion.

If the approach is from a national group, read Selling Your Agency to a Consolidator. For the full picture, see how we sell your business.

Had an Approach? Call Joel Before You Reply

Speak to Joel Osbourne, Head of Realise in confidence. Call 07476 970530 or email joel@2point0group.co.uk.

Frequently Asked Questions

Should I accept the first offer for my estate agency?

Rarely. A buyer who approaches directly is motivated, and first offers are usually built with room to move. Benchmark the offer against the market and negotiate the structure as well as the price before you accept.

Should I tell the buyer I'm talking to an adviser?

Usually, yes. It signals that you will test the offer properly, and serious buyers expect it. It also means negotiation is handled by someone who knows the market.

Is it safe to share my accounts with a buyer who approached me?

Only after a non-disclosure agreement is signed, and even then in stages. Detailed landlord and staff information should come later, once terms are agreed in principle.

What if I'm not sure I want to sell yet?

An approach is still worth assessing. Knowing what your business is worth today, and what would increase its value, helps you decide whether to sell now, later or not at all.

Does an approach mean other buyers would be interested?

Often, yes. If one buyer sees your business as a strategic fit, others with similar strategies may too. Testing the market can improve both price and terms.

How much does it cost to use 2point0 Realise?

Our fees are paid only on successful completion of the sale. They are generally in the region of 2% to 4% of the total sale price, depending on the size and complexity of the transaction. If the deal doesn't complete, you don't pay a fee.

Key takeaways

A direct approach means a buyer is motivated, but the first offer is rarely the best one.
Before you reply, understand what is really being offered: price, structure, timing and conditions.
2point0 Realise has built first offers from the buyer's side, so we know what is usually held back.